SA property market upswing
SA property market upswing
Posted on Monday, July 14 2014 at 10:37 AM
South Australia’s property market is on the upswing according to the Real Estate Institute of South Australia (REISA).
Adelaide’s
median house price recorded an increase of 3.98 per cent from $399,100 to a
record $415,000 over 12 months to June. It also increased 0.42 per cent over
the quarter.
REISA
president Ted Piteo says it’s positive news for the South Australian property
market.
“The
median price continues its upward trend on comparison from the same quarter
last year and the immediately preceding quarter,” he says.
And
the suburbs that have seen the most growth over 12 months were Glenunga,
Gulfview Heights and Eden Hills. Other big movers were St Peters, Hyde Park and
South Brighton.
The
top selling suburbs in terms of recorded sales over the June quarter were
Morphett Vale, Aldinga Beach and Paralowie.
Piteo
says Morphett Vale and Aldinga Beach continue to lead the pack in terms of
sales.
“Affordable
suburbs that offer premiums to first homebuyers and investors such as infrastructure,
quality transport avenues and a life by the sea will always be highly sought
after,” Piteo says.
The
unit and apartment market also saw an upward trend with a 1.59 per cent rise in
median price compared to the same quarter last year.
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